With the mercury rise tipping the scales, ice cream stocks are in demand and we can see this rising fancy for something cold in the stock prices too.
Vadilal Industries soared over 2% to Rs.870.60. Kwality Industries too rose 5% to Rs.56.95 but could not sustain there and has now slipped to Rs.54 levels, just about holding on the green.
With summer scorching the earth, the need to have something cold goes up and in India, the more affordable ‘desi’ brands do much better than the MNCs. Plus the reach of these Indian ice-cream companies is pretty well entrenched into rural India too thus giving it an edge over likes of Baskin Robbins and others.